Laurion Capital Management LP purchased a new position in shares of Urban Edge Properties (NYSE:UE) in the first quarter, HoldingsChannel reports. The fund purchased 311,634 shares of the real estate investment trust’s stock, valued at approximately $5,921,000.
A number of other large investors have also recently added to or reduced their stakes in UE. Pearl River Capital LLC raised its stake in shares of Urban Edge Properties by 380.0% during the 1st quarter. Pearl River Capital LLC now owns 2,400 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,900 shares in the last quarter. Quadrant Capital Group LLC bought a new stake in shares of Urban Edge Properties during the 1st quarter worth approximately $73,000. PNC Financial Services Group Inc. raised its stake in shares of Urban Edge Properties by 44.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,171 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 1,282 shares in the last quarter. NumerixS Investment Technologies Inc raised its stake in shares of Urban Edge Properties by 56.7% during the 4th quarter. NumerixS Investment Technologies Inc now owns 4,700 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of Urban Edge Properties during the 4th quarter worth approximately $108,000. 86.21% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Steven Roth sold 5,717,184 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $18.98, for a total value of $108,512,152.32. Following the sale, the director now owns 1,327,326 shares in the company, valued at approximately $25,192,647.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.90% of the company’s stock.
Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. Urban Edge Properties had a return on equity of 10.84% and a net margin of 26.64%. The company had revenue of $97.73 million for the quarter, compared to analysts’ expectations of $99.43 million. As a group, equities analysts expect that Urban Edge Properties will post 1.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date is Thursday, June 13th. Urban Edge Properties’s dividend payout ratio is currently 67.18%.
A number of equities research analysts have recently issued reports on UE shares. ValuEngine upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Evercore ISI cut Urban Edge Properties from an “in-line” rating to an “underperform” rating in a research note on Tuesday, February 19th. Finally, Zacks Investment Research cut Urban Edge Properties from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st.
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Urban Edge Properties Company Profile
Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 87 properties totaling 16.1 million square feet of gross leasable area.
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